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Tuesday, June 25, 2024

Dragon Capital becomes major shareholder of Hoa Sen Group

The Saigon Times

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HCMC – Dragon Capital has raised its stake in Hoa Sen Group, which trades its HSG shares on the Hochiminh Stock Exchange, to over 5% and become one of the steelmaker’s major shareholders.

Amersham Industries Limited, a member of Dragon Capital, on March 28 bought 1.1 million HSG shares, while Samsung Vietnam Securities Master Investment Trust, another member of Dragon Capital, acquired 100,000 HSG shares.

The deals raised Dragon Capital’s ownership in the firm to 5.05% from 4.86%.

Hoa Sen has worked out two scenarios for 2023. In its first scenario, the firm would produce 1.4 million tons of products and obtain VND34 trillion in revenue and VND100 billion in profit, plunging 32% and 60% from the year-ago figures, respectively.

In the second scenario, in which the firm’s output reaches 1.5 million tons of products, its revenue would drop by 28% year-on-year to VND36 trillion, while profit increased 20% over the same period in 2022 to VND300 billion.

Closing the trading session today, April 3, HSG inched up 0.6% over last Friday to VND16,200 and reported a matching volume of more than 12.6 million shares.

Many bluechips performed well on the Hochiminh Stock Exchange, helping the VN-Index of the HCMC exchange extend its winning streak to the 10th straight session with a gain of 14.64 points, or 1.38%, from the session earlier, at 1,079.28, with winners outnumbering losers by 325 and 84.

Around 640 million shares worth over VND11.8 trillion changed hands, up 28.3% in volume and 19.8% in value, against the previous session. Nearly 42.4 million shares traded in block deals contributed about VND1.2 trillion to the overall value.

The VN30 basket saw 24 stocks rising, with real estate stock PDR being the most positive as it rose 6% against the session earlier at VND13,250.

Lender SHB took the lead by liquidity with over 63.7 million shares changing hands, nearly doubling the second most traded stock VND with 34.7 million shares.

On the Hanoi Stock Exchange, the HNX-Index gained 2.98 points, or 1.44%, from the session earlier, at 210.48.

The northern bourse saw 119 stocks rising and 42 others dipping and reported a trade volume of 67.4 million shares valued at more than VND1.2 trillion, up 8% in volume and 40% in value versus Friday’s session.

Bluechip stocks were key drivers of the Hanoi bourse as the HNX30-Index gained 9.95 points to 382.71. In the HNX30 basket, 23 stocks advanced while four others declined, including PGS, VNR, NTP and DDG.

Securities stock SHS took the lead by liquidity on the northern bourse today with nearly 22.5 million shares changing hands with its price inching up 3.3% to VND9,500.

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